Residents and businesses in Syracuse and other nearby areas of New York State will want to know more about a recent bill that has the governor’s signature. It is Assembly Bill A2202. This bill relates to contractors and subcontractors.
According to legislators, this bill makes a requirement of these businesses; they must disclose the existence of property and casualty insurance.
How it received votes
The A2202 bill won by a large vote. It received 63 yes votes and 0 no votes.
Signed by the Governor
The bill was first referred to consumer affairs and protection in January 2021. It received a signature by the governor after passage by both the state house and senate.
Must disclose before work begins
The contractor or subcontractor must disclose in writing the fact that they have coverage with property or casualty insurance. This insurance must cover the scope of the work done.
Insurance company information
The contractors and subcontractors must also provide the contact information for the insurance company. This is to include a phone number and an address.
When does it take effect?
This business and commercial law act will take effect on April 23, 2022. It is important because it provides protection for both homeowners and contractors at the beginning of a project. It covers the losses that could arise from work done at a property.
The purpose of this legislation is to prevent contractors from failing to provide their property and/or casualty insurance information. They also will not be able to misrepresent the level of insurance that they are holding.
The State welcomes comments
New York State is open to comments regarding their legislation. Their website allows for your comment.
There is more consumer protection with a new disclosure law. The governor signed it in October, and it will require the disclosure of property and casualty insurance before work begins on a project.